WeWork Takes a Dip in the Wave-Pool Business

The fast-expanding office-leasing company takes a big stake in Wavegarden

WeWork Cos. has attained a $20 billion valuation as an office-leasing company. But its ambitions are extending well beyond the workplace—and into the water.

The seven-year-old New York company has purchased a large stake in Wavegarden, a maker of wave pools, according to people informed by WeWork Chief Executive Adam Neumann in recent months. A WeWork spokeswoman said the investment occurred in mid-2016.